The Republican. [volume] (Oakland, Md.) 1877-current, 1887-06-04
Business Barometer.

have decidedly improved. In view
of great speculations in wheat and
cotton. and false reports carefully
circulated by interested parties. it is
well to know that our own agents
telegraph from Wisconsin, Local
rains have helped the agricultural
districts" From Minnesota, Grains
throughout the Northwest very ma
terially improve the crop prospects.
From Indiana, "Crop prospects ex-
ceiient for exceptionally large crops;
recent copious rains of great benefit,
From New Orleans, "Crop prospects
generally good" and these are sam.
Piles of favorable dispatches from
nearly all quarters. The fear of in.
jury thus far seems satisfactorily re-
moved, and if harm to wheat or cot
ton is to come, it must be from eli
matte influences in the future.
This good news for the whole coun-
try is disheartening, however, when
financial prospects have come to de-
pend upon the success of gigantic
speculations for an advance in the
prices of products. The financial fu-
ture is also affected by the large re-
ceipts of the Treasury amounting for
ten months and twenty days to $751;
612,S49 more than the receipts for the
same part of the previous year. At
the same rate the Treasury mint
take from the market a very large
sum every month after the last call,
for 3-per-cents mature July 1st,
Washington dispatches stating that
the Administration will purchase
bonds with great reluctance, if at
all. The last statement of the New
York banks showed an increase of
loans and reserves because Mr.. Man
nings new bank was for the first time
included, but the drain of money to
Chicago to meet the needs of specu-
lation still continues, the return to
that point from the interior being
retarded by real estate and other &C
tivity extensively prevailing.
Foreign commerce does not i'm
! prove. Aprl's imports exceeded ex-
ports by $l5,937, 975, an excess equal.
ed in one month of 1882 after par
tial failure Of crops, and in no month
since 1872. New York exports to
May are HI per cent below those
last year, with imports exceeding
those of last year by 1913 per cent.
which would fOreshadow an excess
of about S14,OO0,0OO in imports this
month. The prevailing speculations
rather than the Interstate act cause
decline in exports, for shipments
of grain by lake and rail are made
without regard to local rail rates.
The Interstate Conn erce Com
mission has not revoked its order
suspending the fourth section, but all
information tends to the belief that it
will do so, and points to rigid in
forcement of the act. Much COM
plant is made even now with the
rate for distance is not everywhere
enforced of the TRANSFERRED trade from
larger to smaller towns, and from
eastern to interior cities. A great
number of suits have been COM
menced, and complaints filed, indi-
cate that the costs of transportation
will be increased rather than dimin-
ished. Earnings still are large and
encouraging, but a war of rates in
the Northwest results from "milling
in transit" contracts issued by ST..
Paul and other roads, and COMPETE
ton of Canadian and water routes is
felt more severely every week.
Accounts from nearly all quarters
are decidedly favorable. AT Phila-
delphia trade is languid and there is
some complaint of slow collections at
New Orleans. Money is rather tight
er, and at Cincinnati collections are
fair, with room for Improvement,
but to the river ports the indicative
trade for the season there is a good
supply of money for all legitimate
business and collections are satisfac-
torily prompt.
In the iron trade. Pittsburgh hopes
to see many "banked' furnaces set
at work again by reduction in the
price of coke and the termination of
the strike. 1t is also believed in De-
troit that the strike of the stove
moulders will end this week and
work resumed Monday. Better trade
in tobacco is noted at Cincinnati, and
the real estate excitement does not
abate. The great sale at Western
Nashville resulted satisfactorily with
heavy purchases by Eastern invest
ors, and prices are sustained with
great confidence at Omaha and other
Western points by more favorable
crop prospects.
The coffee market, after week
advancing prices. declined sharply
yesterday morning. Wheat gained
little during the week and the pnI.